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The impact of financial reporting quality on debt maturity the case of private firms

The impact of financial reporting quality on debt maturity the case of private firms

 Meyere, Michiel De.
 2018.
 p. 759-781. English
Financial reporting.Báo cáo tài chính.Financial reporting quality.Debt.Debt maturity.Nợ đáo hạn.Privately held firms.
Tác giả CN Meyere, Michiel De.
Nhan đề The impact of financial reporting quality on debt maturity: the case of private firms / Michiel De Meyere, Heidi Vander Bauwhede, Philippe Van Cauwenberge.
Thông tin xuất bản 2018.
Mô tả vật lý p. 759-781.
Tóm tắt We examine whether the debt maturity structure of privately held firms is associated with the quality of their earnings numbers. We argue that earnings numbers that are better able to predict future cash flows lower information asymmetry between privately held firms and their creditors, improving privately held firms’ access to long-term debt. Furthermore, we examine whether the relationship between privately held firms’ earnings quality and their debt maturity differs between small and medium-sized enterprises (SMEs) and larger privately held firms. Using detailed financial statement information from a sample of privately held Belgian firms, we find that earnings quality is positively associated with the likelihood of having long-term debt and with the proportion of long-term debt in total debt. Further, we report evidence that these associations are more pronounced for SMEs than for larger privately held firms, which is consistent with smaller firms entailing more fundamental risk for creditors.
Thuật ngữ chủ đề Financial reporting.
Từ khóa tự do Báo cáo tài chính.
Từ khóa tự do Financial reporting quality.
Từ khóa tự do Debt.
Từ khóa tự do Debt maturity.
Từ khóa tự do Nợ đáo hạn.
Từ khóa tự do Privately held firms.
Tác giả(bs) CN Bauwhede, Heidi Vander.
Tác giả(bs) CN Cauwenberge, Philippe Van.
Nguồn trích Accounting and Business Research - Volume 48, 2018 - Issue 7
MARC
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260[ ] |c 2018.
300[1 0] |a p. 759-781.
520[ ] |a We examine whether the debt maturity structure of privately held firms is associated with the quality of their earnings numbers. We argue that earnings numbers that are better able to predict future cash flows lower information asymmetry between privately held firms and their creditors, improving privately held firms’ access to long-term debt. Furthermore, we examine whether the relationship between privately held firms’ earnings quality and their debt maturity differs between small and medium-sized enterprises (SMEs) and larger privately held firms. Using detailed financial statement information from a sample of privately held Belgian firms, we find that earnings quality is positively associated with the likelihood of having long-term debt and with the proportion of long-term debt in total debt. Further, we report evidence that these associations are more pronounced for SMEs than for larger privately held firms, which is consistent with smaller firms entailing more fundamental risk for creditors.
650[0 0] |a Financial reporting.
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653[0 ] |a Financial reporting quality.
653[0 ] |a Debt.
653[0 ] |a Debt maturity.
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653[0 ] |a Privately held firms.
700[1 ] |a Bauwhede, Heidi Vander.
700[1 ] |a Cauwenberge, Philippe Van.
773[0 ] |t Accounting and Business Research |g Volume 48, 2018 - Issue 7
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